COMMISSIONER OF INCOME TAX Vs. SUNDARAM FASTENERS LTD

JUDGEMENT

(1.) IN this appeal, the following substantial questions of law were raised for determination:

(2.) QUESTION No. (1): Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that excise duty does not form part of the total turnover for the purpose of calculation of deduction under Section 80hhc of the Income Tax Act?

(3.) QUESTION (ii) Whether on the facts and in the circumstances of the case, the Income Tax Tribunal is right in law in not considering the judgments of the Supreme Court reported in (1973) 87 ITR 542 in the case of CHOWRANGEE SALES BUREAU P. LTD. v. C. I. T. , and in the case of SYNCLAIR MURRAY AND CO. P. LTD. v. C. I. T reported in (1974) 97 ITR 615?